Amazon revenue in the first quarter exceeded $ 100 billion
Amazon revenue in the first quarter exceeded $ 100 billion

Despite the Coronavirus Pandemic, Amazon has made great strides in 2020 and there is no indication that this trajectory will end in 2021.

The company announced its financial results for the first quarter of 2021 and achieved net sales of $ 108.5 billion.

As the pandemic spreads worldwide, it represented a 44% increase from $ 75.5 billion in the first quarter of last year.

Amazon's second-quarter forecast suggests that momentum will continue, which will help assuage investor concerns about a potential business slowdown in the post-pandemic environment.

The company is expected to generate sales of $ 110 billion to $ 116 billion, beating Wall Street's forecast of $ 108.6 billion.

Amazon confirmed in its forecast that this year's “golden day” will occur in June, which will likely help in comparing second-quarter sales versus last year.

The annual Golden Day event usually takes place in July and lasts for two days. However, due to the uncertainty over the pandemic, the company postponed the event to last October.

Outside of the core retail industry, cloud computing and Amazon advertising business continue to thrive.

AWS third-quarter net profit was $ 13.5 billion, up 32% year-over-year. Amazon did not announce any ad sales, but it was included in the other company category, with sales increasing 77% year-on-year. A year, $ 6.9 billion.

Amazon CEO Jeff Bezos also provided rare insights into the performance of Prime Video's live streaming service during the pandemic as consumers rely on online entertainment.

In the income statement, Bezos said: When Prime Video service hit 10th, more than 175 million Prime members streamed TV shows and movies last year, and it increased broadcast time by 70% year-on-year. Up year.

Prime membership costs about $ 119 a year and includes many other perks, such as: B. Free 2-day shipping.

Bezos announced earlier this month that the company currently has 200 million Prime users, up from 50 million in early 2020.

Brick-and-mortar sales, including other products such as Whole Foods and Amazon Books, continued to decline. Revenue fell 16% to $ 3.9 billion.

During the quarter, Amazon global sales grew faster than North America.

International sales increased 60% year-on-year, while sales in North America increased 40%.

The company refused to discuss the plan to replace the CEO of Amazon, which would go into effect immediately upon Bezos stepping down in the third quarter when he transferred management to Andy Gacy, CEO of AWS. Zos has held the position as CEO of the Amazon Board of Directors.

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